After completing a stock swap agreement with FX Prime by GMO, the biggest retail forex brokerage in Japan, GMO Click Holdings, has began officially trading on the JASDAQ Securities Exchange.
Shares of FX Prime were delisted on the 26th of March, with the new entity trading under a new name and code symbol. GMO Click Holdings (TYO:7177) traded between 1,220 and 1,420 Japanese yen after officially getting listed under the new symbol today.
The company’s stock has rallied strongly into the move, effectively quadrupling its value since October 2014.
FX Prime has announced the re-launch of its binary options service
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Meanwhile, FX Prime has announced the re-launch of its binary options service. The new offering will start accepting account opening applications from clients on the 4th of April (Saturday). The service itself is aiming to launch on the 13th of April (Monday).
A smartphone app for both Android and iPhone is set for release on the 18th of April.
The currency pairs available for trading will be USD/JPY, EUR/JPY, GBP/JPY and the EUR/USD. All ladder binary options contracts adhere to the strict Japanese regulatory requirements and will expire every two hours.
The move comes despite recent declines in binary options volumes traded in Japan. While the data sample provided by Japanese operators of binary options remains insignificant due to the relatively recent establishment of the reporting mechanism (since December 2013), the record volumes from February, March and April of last year remain unreachable.
As regards to the Japanese market, Forex Magnates has expressed in past reports that there might be an inverse correlation between forex and binary options volumes, as traders flock to trading binary when volatility is low, and go back to FX when it is high.